January 8, 2012
A clothes shop offers discount of 50 percent in Hanoi. Vietnamese consumers like to purchase products on sale, a survey has found. All major retailers have been offering attractive discounts to encourage recession-wary shoppers to loosen their purse strings for the festive season, and the initial response has been positive. The discount sales began prior [...]
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January 3, 2012
A street vendor walks past a Chanel SA store inside the Rex Hotel in downtown Ho Chi Minh City, Vietnam, on Tuesday, Dec. 27, 2011. Vietnam’s growth held near 6 percent this quarter, reducing the pressure for further monetary tightening after higher interest rates limited the boost to the economy from exports and domestic consumption. [...]
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January 2, 2012
Vietnam will find it difficult to sustain into the new year the trade deficit reduction that it managed in 2011, given that it plans to reduce import tariffs on many products and that the ongoing global recession could hurt its exports, experts say. Vietnam’s trade deficit narrowed to US$9.5 billion from $12.4 billion in [...]
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November 26, 2011
Vietnam’s inflation slowed for a third month in November, and the central bank signaled it may consider lowering interest rates. Consumer prices rose 19.83 percent from a year earlier, after climbing 21.59 percent in October, the General Statistics Office said in Hanoi Friday. The State Bank of Vietnam has room to cut policy rates [...]
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October 18, 2011
Vietnam’s dong on Tuesday fell to the weakest level in almost six months as the central bank set the currency’s reference rate lower. Government bonds were steady. The State Bank of Vietnam set the daily rate 0.1 percent weaker at 20,723 per dollar, the eighth time this month it fixed a lower level, according [...]
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September 16, 2011
Vietnam should consider consolidating its banks and infusing more capital into lenders as part of structural reforms of the financial industry, the Asian Development Bank said Wednesday. “The number of banks is obviously too many, compared to the size of the economy,” Tomoyuki Kimura, Asian Development Bank’s country director for Vietnam, said in an [...]
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August 26, 2011
A file photo shows a porklift removes a container at Saigon Port in Ho Chi Minh City. Vietnam is expecting an $800 million trade deficit in August after gold exports slumped and oil and gas imports soared, a local news website quoted the government’s statistics office as saying on Monday. August imports totaled $9.1 billion [...]
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June 4, 2011
Shoes and materials are laid on the ground of a factory in the handicraft shoe village of Gie Ha, south of Hanoi. Vietnam’s trade deficit has just kept ballooning over the years and economists don’t see it stopping any time soon, given the country’s heavy reliance on imported materials and machinery. The deficit widened to [...]
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May 16, 2011
Vietnam’s foreign exchange reserves last year dropped 12 percent, ADB said Vietnam, which has kept the precise level of its foreign reserves undisclosed, may publicize the data regularly next year via its national statistics office, VnExpress reported. The General Statistics Office in Hanoi has announced a new national statistical indicator system which has 76 additional [...]
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March 25, 2011
Photo taken on May 6, 2009 shows a ship under repair at Vinashin’s Nam Trieu shipbuilding factory in the northern port city of Hai Phong Prime Minister Nguyen Tan Dung and other leaders acknowledge “shortcomings” in managing the nation’s top shipbuilding company, Deputy Prime Minister Nguyen Sinh Hung said. They had shortcomings and weaknesses but [...]
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